Although the deduction can be as high as $25,000 per tax return, the Tax Policy Center projects an average benefit of ...

The IRS has released guidance to help taxpayers understand how the One Big Beautiful Bill Act will impact existing Employee Retention Credit (ERC) claims and refunds.

Wondering whether you'll need to pay taxes on your Social Security benefits is a very common concern for many seniors and ...

With the 2025 filing season behind us, the Treasury Inspector General for Tax Administration reports the IRS performed well, ...

In his second term, President Donald Trump has intensified his plan to modernize the federal government, focusing on ...

You make quarterly estimated tax payments to the IRS if you are self-employed or don’t have taxes withheld from your income ...

If you earn tips or overtime, the IRS just made your 2025 tax season a little more interesting. A new draft form, Schedule 1-A, lets you claim deductions on those earnings, along with car loan ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

Up to 85% of your Social Security benefits may be taxed, but a new "senior deduction" can cut taxes—unless your income is too ...

Tax management platform Instead is planning to offer completely free tax return preparation and filing for Forms 1040, 1041, 1120, 1120-S and 1065. "If you want to prepare your return, or print and ...